The Coming US Government Default Message Board

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Strategies & Market Trends : The Coming US Government Default

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From: roger_erickson	3/26/2010 6:45:23 PM
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While trying to make sense of readings about currencies, Central Banks, Treasuries, and fiscal policy - I've been drawn to only one area that seems to make any sense at all. It's called MMT, or "Modern Monetary Theory", although I haven't learned who named it that, or when. MMT says there is no operational possibility of a US default, unless it's entirely voluntary. After considerable reading and discussion, this seems to be operational reality and an accounting identity. I've included what I consider to be the most accessible URL links. please see monetary.org A sovereign government can "be into [pretending to] borrow "money’ instead of creating it"? [Yes. Ours was] and "Why US Solvency Is Not An Issue" huffingtonpost.com Chartalism en.wikipedia.org WHY MONEY HAS VALUE chartal.blogspot.com Functional finance en.wikipedia.org books.google.com and mecpoc.org and moslereconomics.com and bilbo.economicoutlook.net and neweconomicperspectives.blogspot.com Henry C. K. Liu does a spectacular job summarizing modern currency (with a few spelling errors): henryckliu.com macroeconomicwoes.wordpress.com thenation.com How to Restore Small Bank Lending huffingtonpost.com Warren Mosler: Proposals for the Banking System huffingtonpost.com ps: Prof's Mitchell & Wray on MMT: youtube.com "Liberty cannot be preserved without a general knowledge among the people." [not to mention the press] - John Adams - 2nd US Pres - 1797 - 1801 Euro was doomed from the start. bilbo.economicoutlook.net huffingtonpost.com 11 steps to fix the economy blogs.reuters.com see also much longer books Randy Wray <http://books.google.com/books?id=6PMuExCtMe8C&pg=PA18&dq=Understanding+Modern+Money:+The+Key+to+Full+Employment+and+Price+Stability&source=gbs_toc_r&cad=4#v=onepage&q=&f=false> Amazon amazon.com Bill Mitchell books.google.com.au google.com

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